Feb. 28, 2012: Vancouver, BC – Oracle Mining Corp. (Stock Profile – TSX:OMN & OTCQX:OMCCF) announced the completion of a non-brokered private placement of 7,800,000 common shares to RichStone Mining Investment (Hong Kong) Limited for aggregate gross proceeds of $9,750,000.
As a result of the private placement, RichStone now owns approximately 19.9% of Oracle Mining’s issued and outstanding common shares. RichStone is a wholly-owned subsidiary of RichStone Investment Co., Ltd., a company focused on investment in the exploration and development of base metals, oil and coal. Established in 1997, RichStone has 11 subsidiaries, plus area and administrative offices and research centres throughout China, employing nearly 1,000 people.
To read more about the financing – CLICK HERE.